Astellas took an option on Audax Biosciences’ IL-12 program through a discovery and development deal that backs an immuno-oncology asset positioned to enter the clinic next year. Under the agreement, Astellas received rights to Audax’s IL-12 receptor agonist DAX-044 and could fund the program through upfront and milestone payments. Audax said the package could total $285 million in upfront and option exercise fees plus $1.05 billion in milestones, along with royalties, depending on outcomes. Audax expects to begin Phase I testing of the program in 2027 for solid tumors, with the option designed to accelerate development. The deal adds to Astellas’ immuno-oncology pipeline strategy by shifting capital toward an IL-12 approach intended to modulate the tumor immune microenvironment.